Grant of warrants


December 31, 2021
Announcement no. 24

Grant of warrants

Today, the Board of Directors of BioPorto A/S (“BioPorto”) (Nasdaq: BIOPOR) has exercised its current authorization by issuing 12,600,000 warrants to key employees and executive management of BioPorto.

The warrants are issued in accordance with the company’s remuneration policy and the authorization in section 17 a of the Articles of Association.

Each warrant grants the holder the right to subscribe for one share in BioPorto. The exercise price is DKK 2.47 per share (corresponding the closing price on December 30 2021 on Nasdaq Copenhagen). The warrants generally vest over a four-year period. The warrants include conditions on claw-back in case of e.g. erroneous financial information and provisions on accelerated vesting in case of e.g. a takeover bid and/or business combinations, and with regard to a total of 1,700,000 warrants, upon U.S Food & Drug Administration approval of The NGAL Test for pediatric use.

After this grant of warrants the total number of outstanding warrants is 21,050,000, as shown in the table below:

 Number of warrants:  Specified as follows: 
          
Warrant     CorporatePrev.Other 
programsGrantedCancelledExercisedOutstandingmanagementmanagementemployeesTotal
          
20166,368,6965,196,1961,172,5000 0000
Jun. 2018900,000900,00000 0000
Aug. 20184,100,0002,000,00002,100,000 01,700,000400,0002,100,000
Dec. 20182,500,000700,00001,800,000 01,800,00001,800,000
Apr. 20195,100,0003,750,00001,350,000 01,350,00001,350,000
Aug. 20191,500,000250,00001,250,000 1,000,0000250,0001,250,000
Dec. 2019250,00000250,000 00250,000250,000
May 20202,150,000800,00001,350,000 1,000,0000350,0001,350,000
Feb. 2021350,00000350,000 00350,000350,000
Dec. 202112,600,0000012,600,000 9,600,00003,000,00012,600,000
          
Total35,818,69613,596,1961,172,50021,050,000 11,600,0004,850,0004,600,00021,050,000

Detailed terms of the new and existing warrants, including applicable vesting schedules, can be found in the Articles of Association on www.bioporto.com under Investor Relations> Governance> Company Articles.

The total number of shares granted and which the warrant holders will be able to subscribe upon exercise of the warrants, is 12,600,000. The theoretical market value of the allocations of warrants amounts to DKK 13 million. The calculation is based on the Black-Scholes formula using an interest rate of -0.58% and the historical volatility of BioPorto A/S' shares of 27 months calculated to 72.12%.

For further information, please contact:

Tim Eriksen, Investor Relations, e-mail: tee@bioporto.com

About BioPorto

BioPorto is an in vitro diagnostics company that provides tests and antibodies to clinicians and researchers around the world. We use our antibody and assay expertise to transform novel research tools into clinically actionable biomarkers that can make a difference in patients’ lives. BioPorto is headquartered in Hellerup, Denmark and is listed on the NASDAQ Copenhagen stock exchange [CPH:BIOPOR].

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2021 12 31 Company announcement no. 24